Toronto Dominion Bank Has $9 Million Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Toronto Dominion Bank lifted its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,686 shares of the medical research company's stock after purchasing an additional 3,840 shares during the period. Toronto Dominion Bank owned 0.05% of Quest Diagnostics worth $9,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sierra Ocean LLC bought a new position in Quest Diagnostics during the fourth quarter valued at about $33,000. FPC Investment Advisory Inc. bought a new position in shares of Quest Diagnostics in the 4th quarter valued at approximately $45,000. Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics in the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new stake in Quest Diagnostics in the 4th quarter worth approximately $54,000. Finally, Sandy Spring Bank boosted its position in Quest Diagnostics by 142.5% during the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock worth $73,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded up $1.72 during midday trading on Monday, reaching $171.34. 1,025,574 shares of the company's stock were exchanged, compared to its average volume of 992,088. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company's 50 day simple moving average is $170.37 and its two-hundred day simple moving average is $164.31. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.99. The firm has a market capitalization of $19.13 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio is 40.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DGX shares. Citigroup lowered shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target on the stock. in a research report on Tuesday, March 4th. UBS Group lifted their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Robert W. Baird raised their price target on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Mizuho boosted their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $185.73.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $170.00, for a total transaction of $789,310.00. Following the sale, the senior vice president now owns 38,117 shares in the company, valued at approximately $6,479,890. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Catherine T. Doherty sold 824 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $142,230.64. Following the transaction, the executive vice president now owns 69,178 shares in the company, valued at approximately $11,940,814.58. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,985 shares of company stock worth $9,147,802 over the last three months. Company insiders own 8.16% of the company's stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.